Bimmerpost News just reported the BMW F87 M2 will be coming late 2015 or early 2016! Production for the M2 will begin late Fall 2015 and engine specs have been reported to be the N55 turbo inline 6 (N55B30T0) making somewhere between 365 hp to 375 hp. There have been additional reports that it will come in either a manual or automatic transmission configuration.
The BMW naming convention just got a bit more baffling and the current M235i owners may be feeling a little remorse for jumping the gun, but this is great news for the E46 lovers. People said the M235i is the E46 M3 replacement, but this M2 definitely fits that better.
Rendering photo credits to 2013 DSM CarDesign.